Surveillance: Smart Fed Policy with Garvey
Bloomberg Surveillance
00:00
A 5% Is Not an Equilibrium, but It's a Positive Thing
This is a really unusual set of circumstances, John. I think people are not getting a lot of stuff because it's tough. We also can't live with five, by the way. A 5% is not an equilibrium. And the equilibrium is down to 3%. It includes a bit of a growth recession, but not Tom's doom and gloom and Armageddon.
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